By Xavier Vives
The "oligopoly problem"--the query of ways costs are shaped while the marketplace includes just a couple of competitors--is one of many extra continual difficulties in the heritage of monetary inspiration. during this ebook Xavier Vives applies a contemporary game-theoretic method of enhance a idea of oligopoly pricing.Vives starts via referring to vintage contributions to the field--including these of Cournot, Bertrand, Edgeworth, Chamberlin, and Robinson--to glossy online game thought. In his dialogue of easy game-theoretic instruments and equilibrium, he will pay specific realization to contemporary advancements within the conception of supermodular video games. the center component to the ebook, an in-depth remedy of vintage static versions, presents really expert lifestyles effects, characterizations of equilibria, extensions to giant markets, and an research of comparative statics with a view towards utilized paintings. the ultimate chapters research dedication concerns, access, details transmission, and collusion utilizing various instruments: two-stage video games, the modeling of festival less than uneven details and mechanism layout concept, and the speculation of repeated and dynamic video games, together with Markov excellent equilibrium and differential video games.